Labour was last night urged to cut taxes on jobs amid warnings youth unemployment is heading towards 18 per cent for the first time in more than a decade.
In a bleak report that fuelled fears of a ‘lost generation’, the British Chambers of Commerce said it expects the jobless rate among 16 to 24-year-olds to rise from the current level of 16.2 per cent to 17.9 per cent by spring next year.
That would be the highest level since early 2014 and add another 79,000 to the army of youngsters unable to find a job – taking the total to over 800,000.
The BCC warned overall unemployment is heading for a 12-year high of 5.5 per cent as the economy slows to a crawl with growth of just 0.9 per cent this year and 1 per cent in 2027.
The grim forecast came just days after official figures showed there are now one million Neets – not in education, employment or training – aged 16 to 24.
